Auto Stocks Drop as Trump Plans 25% Tariff on Car Imports

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• 00:03

  President Trump makes good on his pledge to penalize foreign carmakers,

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  announcing plans for 25% tariffs on global imports.

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  Plus,

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  European leaders move to build a Ukraine support force without the US and the used phone market takes off.

• 00:20

  If you buy a secondhand phone, you pay a third of the price,

• 00:23

  maybe half the price for a phone that's pretty similar to a brand new one.

• 00:27

  It's Thursday, March 27th.

• 00:29

  I'm Luke Vargas for the Wall Street Journal.

• 00:31

  Here is the AM Edition of what's news,

• 00:34

  the top headlines and business stories moving your world today.

• 00:42

  Global reaction is pouring in after President Trump yesterday evening announced

• 00:46

  that the U.S. would impose 25% tariffs on all automotive imports starting April 3.

• 00:53

  The announcement appeared to dispel any chance of an exemption for countries like Mexico and Canada,

• 00:59

  which have a free trade agreement with the US and would be added on top of of 25% tariffs on goods from those countries that Trump had already imposed.

• 01:09

  Canadian Prime Minister Mark Carney was quick to respond,

• 01:12

  invoking the interests of the country's unionized auto workers and its bilateral trade with the US and this is.

• 01:19

  A direct attack, to be clear, a.

• 01:22

  Direct attack on the very workers that I stood in front of,

• 01:26

  uniform workers I stood in front of this morning at the Ambassador Bridge,

• 01:31

  a bridge that is a symbol and a reality up until now of the tight ties between our two countries,

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